Wednesday, November 7, 2012

AUDJPY Channel Short Trade AUDJPY Short Trade
I am watching this channel from past few sessions. Details [here].

AUDJPY pair is making out a rising channel on H4 charts. So far this channel is holding well and is a good resistance to any spikes. 

I expect this channel to hold on any spikes. I plan to go short on touch spikes towards the upper trendline for a possible move towards mid of the channel. Stop loss will be break and daily close above the highs.

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